Global Insomnia Industry: Key Statistics and Insights in 2024-2032
Summary:
- The global insomnia market size reached USD 5.2 Billion in 2023.
- The market is expected to reach USD 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 2.69% during 2024-2032.
- North America’s leads the market, accounting for the largest insomnia market share.
- Benzodiazepines account for the vast bulk of the market share due to their lengthy history of usage and proven efficacy in promoting sleep.
- The market is organized into four distribution channels: hospital pharmacies, retail pharmacies, drugstores, and online pharmacies.
- Insomnia is growing increasingly prevalent as people age. Sleep habits in older persons frequently vary, with lighter sleep, more frequent awakenings at night, and earlier wake-up times.
- Technological advancements are enabling the creation of digital health solutions for insomnia treatment.
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Industry Trends and Drivers:
- Increasing Aging Population:
Insomnia is becoming more common as people are aging. Older adults often experience changes in sleep patterns, including lighter sleep, more frequent awakenings during the night, and earlier wake-up times. As a result, the prevalence of insomnia tends to be higher in the elderly population compared to younger age groups. Moreover, aging is often accompanied by the onset or exacerbation of various medical conditions, such as chronic pain, arthritis, respiratory disorders, and neurological conditions like Parkinson’s disease or dementia. These comorbidities can contribute to insomnia or make it more difficult to manage, leading older adults to seek treatment for their sleep problems.
- Technological Advancements:
Innovations in technology are leading to the development of digital health solutions for insomnia management. Mobile applications, wearable devices, and online platforms offer various tools and resources for tracking sleep patterns, implementing cognitive behavioral therapy for insomnia (CBT-I) techniques, and monitoring progress over time. These digital tools provide individuals with convenient and accessible options for managing their sleep disorders, thereby expanding the reach of insomnia treatments. Furthermore, advancements in telemedicine technologies allow healthcare providers to assess and monitor patients with insomnia remotely. Virtual consultations, remote monitoring tools, and telehealth platforms enable individuals to receive personalized sleep assessments, access evidence-based treatments, and receive ongoing support from healthcare professionals without the need for in-person visits.
- Rising Healthcare Expenditure:
As healthcare spending is increasing, the investment in research and development (R&D) activities in the pharmaceutical and medical industries is rising. Pharmaceutical companies and device manufacturers are allocating resources to develop new insomnia treatments, innovative therapies, and advanced diagnostic tools. This R&D investment leads to the discovery of novel drugs, formulations, and technologies for managing insomnia more effectively, thereby expanding the range of treatment options available in the market. In addition, rising healthcare expenditures often translates into the expansion and modernization of healthcare infrastructure, including hospitals, clinics, sleep centers, and outpatient facilities. The availability of state-of-the-art diagnostic equipment, sleep laboratories, and specialized sleep clinics enables healthcare providers to offer comprehensive sleep evaluation and management services to patients with insomnia.
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Insomnia Market Report Segmentation:
By Drug Class:
- Antidepressants
- Melatonin Antagonist
- Benzodiazepines
- Nonbenzodiazepines
- Orexin Antagonist
- Others
Benzodiazepines account for the majority of the market share owing to their long-standing history of use and established efficacy in promoting sleep.
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
Based on the distribution channel, the market has been divided into hospital pharmacies, retail pharmacies, drug stores, and online pharmacies.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the insomnia market on account of advanced healthcare infrastructure and a robust network of healthcare providers specializing in sleep medicine.
Top Insomnia Market Leaders:
The insomnia market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- Astellas Pharma Inc.
- Aurobindo Pharma Limited
- Biocodex
- Eisai Co. Ltd.
- Mallinckrodt Pharmaceuticals
- Merck & Co. Inc.
- Neurim Pharmaceuticals Inc.
- Pfizer Inc.
- Sanofi S.A.
- Sumitomo Dainippon Pharma Co. Ltd. (Sumitomo Chemical Co. Ltd.)
- Takeda Pharmaceutical Company Limited
- Vanda Pharmaceuticals Inc.
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